CHICAGO: Chicago Board of Trade soybean futures rose on Monday for a third straight session, buoyed by technical buying and strength in soyoil futures, traders said.
A firm tone in US crude oil futures and a weaker dollar index lent additional support.
The CBOT November soybean contract settled up 6-1/2 cents at $9.72-1/2 per bushel, breaking through chart resistance at its 200-day moving average near $9.70.
CBOT December soyoil rose more than 2 percent, buoyed by strength in Malaysian palm oil futures.
Palm firmed on expectations for tightening stockpiles and weakness in Malaysia's currency, the ringgit.
CBOT soymeal closed lower, losing to soyoil on oil/meal spreads.
The soy market shrugged off bearish weekly inspections data from the US Department of Agriculture.
The government reported export inspections of US soybeans in the latest week at 755,120 tonnes, below trade expectations for 1.0 million to 1.3 million.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters expected the government to report the US soybean harvest as 4 percent complete.
They expected soybean condition ratings to remain unchanged with 73 percent of the crop rated as good to excellent.
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